Groww’s IPO Marks Largest Indian Fintech Listing of the Year

New updates have been reported about Groww (PC:GROWW)

Groww, an Indian online brokerage platform, has made a significant impact with its recent IPO, raising ₹66.3 billion (approximately $748 million) and achieving the largest fintech listing in India this year. The company’s shares debuted at ₹112, a 12% increase from their issue price of ₹100, and closed at ₹128.85, giving Groww a market capitalization of ₹795 billion (around $9 billion). This successful listing occurs amidst a surge in Indian startup IPOs, with other companies like Lenskart and Pine Labs also entering the market.

Founded in 2016 by former Flipkart employees, Groww has capitalized on India’s retail investing boom, attracting investors such as Microsoft CEO Satya Nadella and venture capital firms like Peak XV and Tiger Global. The platform, which focuses on first-time retail investors, reported over 14 million active users by June and has expanded its services beyond stockbroking to include lending, payments, asset management, and insurance brokerage. Despite these expansions, stockbroking remains its primary revenue source. In the fiscal year ending March 2025, Groww reported revenues of ₹39 billion ($440 million) and a net profit of ₹18 billion ($206 million). The IPO, which was oversubscribed nearly 18 times, saw significant interest from institutional investors and raised about ₹30 billion from anchor investors in a pre-IPO placement. Groww plans to utilize the raised capital to enhance its technology infrastructure, boost marketing, and invest in its lending and margin trading sectors, with funds also allocated for potential acquisitions.